The WEL Group is focused on delivering innovative utility services to enable our communities to thrive. We play a vital part in the economic and social development of the region by recognising and investing in new technologies that will revolutionise our electricity and fibre network, and future-proof our region.
The 2017-18 year has been positive for our business as we continue to provide reliable multi-utility services to our communities and extend the reach of our fibre network into additional North Island communities.
- The WEL Group has delivered its first full financial year of consolidated year end results incorporating Ultrafast Fibre Limited (‘UFF’). The Net Profit after Tax of $13.4M was $1.8M higher than budget due to commercial lines consumption and continued strong urban development in the Waikato region.
- UFF was awarded a further 27 new regional communities under the Government’s UFB initiative. Ngaruawahia in Waikato, Omokoroa in Bay of Plenty and Stratford in Taranaki were the first three town builds to start under the new expansion in 2017.Approximately 1,200 premises will have access to fibre broadband once the network build is complete.
- UFF established its in-house Network Management Centre (NMC) creating local employment for eight skilled people. Subsequently, fault clearance times have reduced and network reliability has moved higher.
- For the third year running, Deloitte’s annual Fast50 ranking revealed that UFF is a strong local company year-on-year. Ultrafast Fibre was awarded “Fastest Growing Technology Business in Central North Island” from 2015 to 2017.